• Journal of Distribution Science
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• v.12 no.6
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• pp.81-88
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• 2014

Purpose - Entrepreneurship promotion is emerging as an important economic growth agenda. However, in Korea, entrepreneurship has weakened because of the collapse of the venture bubbles of the 2000s and the global economic recession in 2008, which have induced the business community to choose stability over risk. The Korean government has been implementing several support projects to inspire and promote youth entrepreneurship through various means including financial assistance; however, the perpetuation rate of young entrepreneurship is still low as compared to advanced economies such as the US and EU. This case study focuses on the Youth Start-Up Business Support Program of the Small & Medium Business Corporation, and explores practical alternatives. Further, it aims to suggest managerial factors and a conceptual model for change management factors affecting the business performance creation of a startup company, based on the Small and medium Business Corporation's young venture startup fund. Research design, data, and methodology - Many studies examine the current progress and issues of startup firms, for example, a lack of systematic cultivation of entrepreneurship and startup business training, lack of commercialization funding for youth startup businesses, lack of mentoring, and inadequate infrastructure. From prior research, we address four factors, namely, personal managerial capabilities, innovative business model, sufficient cash flow, and social network, affecting startup companies' business performance. This study involved a sample survey of 200 young entrepreneurs to investigate casual relations between the four factors and business performance. A regression analysis was used to verify the hypotheses. Results - First, in relation to differences in the founder's personal characteristics, age, sales amount, and number of employees significantly impact business performance. Second, regarding the causal relation between the four factors for creating business performance, an innovative business model and social networking have supported the hypotheses, revealing that the more that a start-up founder has an innovative business model and social networking, the more the start-up firms are likely to have better performance (e.g., sales volume, employment, ROE, ROI, etc.). Although the founder's competency and sufficient cash flow have no significant relationship with business performance, the mean value was higher performance for high founder's competency and sufficient cash flow. Conclusions - This study provides basic data on policy support strategies of the Small and Medium Business Corporation, to help young entrepreneurs achieve their start-up business goals. It shows that young entrepreneurship startup firms should strive to explore ideas to satisfy customers' needs, and that changes in customer value and the continuous innovation of business model differentiation are required to actively respond to change management. Moreover, at the infant startup stage, they should activate social network programs to share information, thereby offsetting resource scarcity and managing business risk. Further, the establishment of a long-term vision and the implementation of training programs in related specific fields should be supported to strengthen founders' personal capabilities.

• Journal of Service Research and Studies
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• v.12 no.3
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• pp.70-92
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• 2022

Project risk assessment is the most important activity performed at the beginning of a project because it can judge the performance of the project in advance. In this study, We were evaluated risk with traditional risk factors such as technology and schedule, etc, and Indirect risks factors such as financial, strategic, and special risks. and then, we analyzed what kind of relationship these risk evaluation factors have on business performance and customer satisfaction. As a result of the research, it was found that the risk evaluation items had a relationship with performance and customer satisfaction. However, It is possible that the performance may differ depending on how risks are managed after risk assessment. Therefore, follow-up studies should be conducted, including information on risk management practices. This study is meaningful that presenting practical risk evaluation items and at the same time identifying the relationship with performance. We plan to further the study in future studies including the evaluation of risk management process.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.1-8
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• 2016

Self Regulatory Focus Theory explained two different self-regulatory systems(promotion focus and prevention focus) to achieve a goal. According to this theory, people have different type of goal(approach pleasure and avoid pain) and use different type of strategy to achieve the goal. Promotion focus targets their attention to positive outcomes and the achievement of gains. On the other hand, prevention focus targets attention more to negative outcomes and the avoidance of losses. Also, promotion focus tends to use approach and eager strategy to achieve the goal and prevention focus tends to use avoidance and vigilant strategy. This study examined the effects of self regulation focus on attitude and intention toward business start-up. We proposed that promotion focused people will respond more positively to the attitude and intention toward business start-up than prevention focused people. This likely because promotion focused people tend to focus more ideals and gains, where prevention focused people tend to focus more safety and risk. And also we proposed that these effect will be influenced by psychological distance. This study investigated these relationships using 186 under graduate students. The result of analysis indicated that promotion focused people responded more positively on the intention toward business start-up than prevention focused people. But it had not any effect on the attitude toward business start-up than prevention focused people. Self regulation focus and psychological distance turns out to be a significant factors that influence attitude and intention toward business start-up. Finally, we concluded with a discussion of the implications of the research findings and directions for future research.

• The Journal of the Korea Contents Association
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• v.16 no.4
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• pp.477-487
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• 2016

The purpose of this study is to identify the relationship between the entrepreneurship of undergraduate students and the entrepreneurial intention focused on the mediating effect of the motivation for participating in the start-up idea contest. The results of the study were as followed; First, it was found that the factors of innovativeness, proactiveness and risk-taking in the entrepreneurship had significant influence on the entrepreneurial intention. Second, the effect of the factors between the innovativeness in the entrepreneurship and the entrepreneurial intention was significant influence by mediating effect of the motivation for participating in the start-up idea contest. Last, the factors of financial reward, career reward of the motivation were not effected by entrepreneurship and entrepreneurial intention. Based on these findings, students with high entrepreneurship have high entrepreneurial intention. And students were intended to feel a sense of achievement through challenging than getting financial rewards and career rewards. Therefore, it was shown that in order to encourage undergraduate's establish of a new business, the environment to develop innovative ideas and inspiring the confidence of participating in the start-up contest are needed to be invigorated.

• Journal of Technology Innovation
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• v.22 no.2
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• pp.185-220
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• 2014

The purpose of this study is to get a whole picture of financial conditions of the new and renewable energy sector which have been growing rapidly and predict bankruptcy risk quantitatively. There have been many researches on the methodologies for company failure prediction, such as financial ratios as predictors of failure, analysis of corporate governance, risk factors and survival analysis, and others. The research method for this study is Altman Z-score which has been widely used in the world. Data Set was composed of 121 companies with financial statements from KIS-Value. Covering period for the analysis of the data set is from the year 2006 to 2011. As a result of this study, we found that 38 percent of the data set belongs to "Distress" Zone (on alert) while 38% (on watch), summed into 76%, whose level could be interpreted to doubt about the sustainability. The average of the SMEs in wind energy sector was worse than that of SMEs in solar energy sector. And the average of the SMEs in the "Distress" Zone (on alert) was worse than that of the companies of large group in the "Distress" Zone (on alert). In conclusion, Altman Z-score was well proved to be effective for New & Renewable Energy Industry in Korea as a result of this study. The importance of this study lies on the result to demonstrate empirically that the majority of solar and wind enterprises are facing the risk of bankruptcy. And it is also meaningful to have studied the relationship between SMEs and large companies in addition to advancing research on new start-up companies.

• Journal of Distribution Science
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• v.10 no.3
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• pp.31-42
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• 2012

After the rapidly changing business management environment and financial crisis, high prices and domestic recession in Korea posed threats to the business survival of small and medium enterprises (SMEs). This paper looks at the potential of micro business owners for sustainable development: those who have a spirit of entrepreneurship and the potential to be a hidden champion. Our study of micro business values uses structure equation modeling by LISREL. We have done so in order to understand the foundation of management innovation and success model of micro enterprise by increasing the entrepreneurship and management performance relationship analysis. A micro-enterprise is a type of small business, found only in Korea, often registered as having ten or fewer employees. We examine the successful type of hidden champions and the influence of entrepreneurship on start-ups in business. As compared to past research on the SME entrepreneurship, this study segments small businesses even further. Small business entrepreneurship was classified into three forms that are most appropriate for the Korean situation today: innovation, risk-taking, and pro-activeness. This research is meaningful as it is Korea's first empirical analysis on four business types: wholesale and retail sales, food and lodging business, service business, and manufacturing business. Thus far, research on small business entrepreneurship was carried out using small-scale investigative analysis. However, this research attempted to develop a model that can explain a cause-effect relation of the motivational level when it comes to the difference of entrepreneurship by each business type and small business start-up success factors. Various conceptual and operational definitions could be developed in a diverse and precise manner. Independent variables that are related to the success of small businesses can be developed additionally to examine the success factors related to the systematization in detailed manner. The research showed that the innovation, risk-taking and pro-activeness of the manifested difference in the degree of perception depending on the type of small businesses. Among the four business types, the ones that manifested the highest successful start-up rates were food, service, wholesale and retail sales and manufacturing. Results after conducting the regression analysis are shown on, which proves that the small business entrepreneurship exerts direct effect on the financial management performance of small businesses. In other words, small business entrepreneurship exerts a positive effect on the small business financial success and management performance. The R² value is 0.61. It is possible to know that the perception of systematization and variables on attitude explains the 61% of the success for small self-employed businesses management performance. We define start-up key factors that are helpful to achieve internal growth of firms by finding business survival strategies. The results also focus on Korean government policy for micro enterprise and small business support.

• Journal of Technology Innovation
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• v.25 no.1
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• pp.35-60
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• 2017

In this study, the effects of Venture Start-up's Technological Capabilities on Financial Stability and Possibility of Insolvency was investigated by use of SEM(Structural Equation Model). Technological Business Capabilities include CEO's Technological Capability, Management Specialization and the Feasibility of the Investment plan. The empirical data for this study were taken from the technology assessment data of Korea Technology Guarantee Fund(KTGF) on 1,419 Venture Start-ups from 2011 until 2012 and the financial data of the following 2 years of the sample. Venture Start-ups established within 7 years, were selected for this study's sample from viewpoint of their 'High-Risk High-Return' characteristic. The results are as follows : Manpower including CEO's Technology-related Knowledge and Experience, Management Organization's Technological Specialization and Cooperativeness, Reasonable Investment and Financing Planning etc. were proved to improve Financial Stability, and therefore reduce Possibility of Insolvency.

• The Journal of the Korea Contents Association
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• v.13 no.8
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• pp.308-313
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• 2013

Among 179 specimen diagnosed with ASCUS but did not go through biopsy or other tests, 26 cases (14.52%) showed positivity in HPV Hybrid Capture II Test. There were 25 cases of HPV high risk factor(+), marking 13.96%, and 3 cases of low risk factor(+) at 1.67%. According to cytology manifestation, patients with over LSIL can increase their complete recovery rate with continuous tests, but most patients diagnosed ASCUS do not go through any tests at all. It is considered that in order to prevent and start early treatment on cervical cancer, the HPV Hybrid Capture II Test must be enforced to patients diagnosed with ASCUS. Negative patients should go through routine screening, and positive patients should receive treatment after colposcopy.

• Journal of Korean Academy of Nursing
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• v.52 no.2
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• pp.214-227
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• 2022

Purpose: This study was aimed at investigating the incidence and risk factors of dyslipidemia in menopausal women using a Korean community-based longitudinal study. Methods: The subjects were 245 postmenopausal women without dyslipidemia who had participated in the Ansan-Ansung cohort study from 2001~2002 (baseline) to 2015~2016 (seventh follow-up visit). The dyslipidemia incidence was measured as incidence proportion (%) and incidence rate per 100 person-years. The predictors of developing dyslipidemia were analyzed with Cox's proportional hazard model. Results: The incidence of new dyslipidemia during the follow-up period was 78.4% (192 patients), and 11.9 per 100 person-years. Mean duration from menopause to developing dyslipidemia was 5.3 years in new dyslipidemia cases. The triglyceride/high density lipoprotein (TG/HDL-C) ratio at baseline (hazard ratio = 2.20; 95% confidence interval = 1.39~3.48) was independently associated with developing dyslipidemia. Conclusion: Dyslipidemia occurs frequently in postmenopausal women, principally within five years after menopause. Therefore, steps must be taken to prevent dyslipidemia immediately after menopause, particularly in women with a high TG/HDL-C ratio at the start of menopause.

• International Commerce and Information Review
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• v.18 no.2
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• pp.3-26
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• 2016

Crowdfunding is growing up SNS spread, raising funds from numerous people which are offering necessary funding of private and enterprise using the internet-based platforms. The function of crowdfunding uses innovative financing in being business and start-ups having difficulty in financing. Crowdfunding in our domestic is concentrated on culture and arts in the early adoption phase, and is numerous projects with public features. However, the investment case of crowdfundig in e-commerce trade start-ups is rarely in spite of a increased attention for crowdfunding.. The purpose of this study examined the factors to be considered when using successfully crowdfunding on e-commerce trade start-ups. This study is understanding the legal and policy of crowdfunding market status and other countries, and suggests the activation of the direction of government policy, legal system, and participation of financing suppliers and investors as activating the law and policy system related the crowdfunding on a domestic in terms of e-commerce trade start-ups investment.